Florence, 17 June 2024 – “Open a business in the tertiary sector, i.e. in the trade, tourism and services sectors, it is a rather simple operation, which in some cases does not even require a too expensive initial investment. But this very ease, encouraged by the liberalization of licenses, could be misleading.” The director of Confcommercio Tuscany, Franco Marinoni.
What kind of investment do you need to get started?
“To open a small bar or a retail food shop or other product category, a large initial capital is not always required, as is the case for a hotel or a high-tech service company. But to be successful on the market transversal skills, professionalism and the right predisposition are needed. Those who approach this profession with carelessness cannot resist for long, the competition is harsh and mortality within the first 3/5 years is high”.
What are the first steps to take?
“After the evaluation of the choice of legal form (sole proprietorship or one of the corporate forms required by law) and the drafting of the business plan, it is necessary to request the attribution of the VAT number to the Revenue Agency indicating the Ateco code linked to the activity and , in many cases, submit a certified start-up report (SCIA) to the Municipality. It is then necessary to verify the obligation to register with the Chamber of Commerce and the INPS training on food hygiene, while registration with INAIL and compliance with workplace safety requirements are mandatory if partners or employees work in the company”.
Does this mean other expenses?
“The costs for these operations are certainly lower than those linked to renting or purchasing a property in which to operate, the necessary equipment and the possible hiring of employees. In any case, in addition to establishing a good relationship with banks, it is useful to look for public tenders to obtain subsidized loans or non-repayable grants”.
Young people and women: what help?
“To encourage youth and female entrepreneurship, the Tuscany Region has allocated 50 million in the 2021-27 ERDF plan. We eagerly await the calls for new businesses, which have been missing for two years now. They will give a new boost to Tuscan entrepreneurship”.
Any advice for those preparing to take this step?
“The advice of experts is essential to warn against possible missteps, help in the study of the market and the feasibility of ideas, guide through the intricacies of bureaucracy and in the search for contributions and financing. With 800 thousand associated companies in Italy, over 50 thousand in Tuscany and almost 10 thousand in Florence, Confcommercio is first in terms of representativeness”.
INVESTING IN TOURISM
Companies in the tourism sector that want to improve the quality of hospitality services in relation to international standards (through energy efficiency and anti-seismic interventions, the elimination of architectural barriers, sustainability or modernization) can take advantage of the benefits provided by the Fri- Tur (Tourism Enterprises Revolving Fund), the Pnrr measure designed to support access to credit and medium-sized investments in the sector. Fri-Tur concessions can be requested by, among others, businesses in the tourism-accommodation sector such as hotels, farmhouses, spas, businesses in the recreational, trade fair and conference sectors, open-air accommodation facilities, aquatic theme parks or wildlife.
The Fund finances investments made in one or more units of the applicant company (provided they are located in the national territory) for a total of between 500 thousand and 10 million euros (net of VAT). Among the eligible expenses, to be carried out by 31 December 2025, there are those for: energy or anti-seismic requalification, the elimination of architectural barriers, extraordinary maintenance, restoration and conservative rehabilitation, building renovation, installation of artefacts light; the construction of thermal swimming pools (only for thermal establishments); digitalisation; the purchase or renovation of furnishings; professional performance. You have until 12pm on 31 July 2024 to submit grant applications through the reserved area of the Invitalia portal. They will then be examined in chronological order of presentation.
GRANTS FOR UNDER 35S
«On – Beyond new zero-interest businesses» is the incentive promoted by the Ministry of Economic Development which makes zero-interest loans and non-repayable contributions available for micro and small businesses in the manufacturing, services, commerce or tourism sectors, established in form of company and for no more than five years, with a shareholder structure made up of more than half of individuals aged between 18 and 35 or women of all ages. Projects are admitted which involve the creation of new initiatives or the expansion, diversification and transformation of existing activities, through the purchase of tangible and intangible assets (from masonry works to machinery, patents and user licenses) or materials prime, services and enjoyment of third-party assets, but within the limit of 20% of the investment.
The business plans must be started after the submission of the application and must be concluded within 24 months from the date of signature of the financing contract. The benefits include a mix of zero-interest financing and non-repayable contributions for business projects with expenses of up to 3 million euros, in order to cover up to 90% of the total eligible expenses. The incentive, granted until resources are exhausted, is available at the counter: there are no rankings or deadlines. Applications, to be submitted online on the Invitalia platform, are examined on a first-come, first-served basis. The evaluation process involves two phases, which include in-depth interviews to verify the skills of the entrepreneurial team and the internal coherence of the project, also with respect to the potential of the market, and finally its economic-financial sustainability.
